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BEIJING, July 15 (Xinhua) -- At least 135 people had been confirmed dead and 41 are missing, as some of the worst flooding in years continues in south China.By 4 p.m. Thursday, close to 35.5 million people in 10 southern provinces and Chongqing Municipality had been affected by continuous rainstorms and floods since July 1, the Civil Affairs Ministry said in a notice on its website.About 113,000 homes were destroyed and more than 1.2 million people had been relocated, it said.Direct economic losses were estimated at about 26 billion yuan (3.8 billion U.S. dollars), up from Wednesday's 22.2 billion yuan.In Jiangxi Province alone, at least eight people have died since July 8, and direct economic losses have amounted to more than 2.9 billion yuan.The ministry had dispatched work groups to Jiangxi to direct relief work.The Office of State Flood Control and Drought Relief Headquarters announced earlier Thursday that floods had killed 594 people in 26 provinces since the beginning of the year. Another 212 people were missing.Direct economic losses cause by the floods totaled 120.2 billion yuan, the office said, adding that 97.5 million people and 6.16 million hectares of farmland were affected.In Hubei Province, continuous downpours and rain-triggered floods since July 3 have left 32 people dead and two missing.Heavy rainfall has raised water levels in many rivers in the middle and lower reaches of Yangtze River, China's longest, and a new round of rainstorm is expected to pelt the river course soon, bringing possibility of serious floods.The river's Three Gorges Dam raised the speed of water discharge Thursday afternoon to save space for the upcoming gushing flooding waters.

BEIJING, Aug 18 (Xinhua) - Wang Zuoan, head of China's State Administration for Religious Affairs, said here Wednesday religious personnel should not seek fame and fortune.Wang is the first government official comment on a reported scandal by a popular Taoist priest.Li Yi, the priest, renowned for his reported 30,000 followers, has been found by local authorities to have fabricated several miracles he claimed to have enacted, including holding his breath underwater for two hours non-stop.The priest oversees the Shaolong Taoist Temple in southwest China's Chongqing Municipality, where expensive health and meditation programs are offered.Wang said no one could become religious leaders with only the help of media puffery, celebrity endorsements and big money, and warned religious personnel to not believe in the fairy tale of overnight fame.Instead, religious personnel should have a detached and tranquil mind, acquire merits and virtues through study and religious practice, and win respect with knowledge, integrity and character, he said.He also called on government departments of religious affairs across the country to constantly enhance the education and cultivation of religious personnel and adopt effective measures to prevent the moral degradation of them.

BEIJING, July 19 (Xinhua) -- While China strives to create a more open and fair business environment, the country also wants business to embrace environmental-friendly policies. The move, aimed at a sustainable growth, should not be interpreted as worsening the investment conditions, analysts note."Currently, there is an allegation that China's investment environment is worsening. I think it is untrue," Premier Wen Jiabao said while talking with heads of prestigious German and Chinese firms in northwest China's Xi'an city over the weekend.Although Chinese leaders stated that China welcomes foreign investment as always, some western media have repeatedly run stories that claim China's investment environment is worsening.Statistics, however, tell a different story. Foreign direct investment (FDI) that flowed into China in June surged 39.6 percent from a year earlier, resulting in a 19.6-percent year-on-year increase during the first half of this year."Foreign investment will not pour into a country where the investment environment is worsening," Wen said.China will continue both its opening-up policy and improving its investment environment, as the government promised, but structural changes are expected because both China and the world are changing, analysts said.For the past 30 years, China has been wooing foreign investment with many preferential policies designed to attract badly-needed capital, advanced technology and management expertise.

BEIJING,Aug 17(Xinhuanet) -- China reduced its holdings of U.S. Treasury debt for a second straight month in June while the holdings of Japan and Britain rose.China's holdings fell by billion to 3.7 billion, a decline of 2.7 percent, the Treasury Department said Monday in a monthly report on debt holdings.Total foreign holdings of Treasury securities rose .6 billion to a total of trillion, an increase of 1.2 percent.The debt figures are being closely watched at a time when the US government is running up record annual deficits. A drop in foreign demand would lead to higher interest rates in the United States. The yield on Treasuries rises when fewer people invest in them.It would start with the US government paying more interest on its .3 trillion national debt and then ripple through the economy. Consumer loans such as home mortgages and auto loans track the yields on Treasurys, so they could rise, too.So far, interest rates in the United States have remained extremely low. A weak economy has depressed borrowing by the private sector and the Federal Reserve has kept a key interest rate at a record low level of zero to 0.25 percent in an effort to spur stronger growth.US interest rates have also been kept low by the European debt crisis in the spring. That triggered more investment in US Treasurys, which are considered the safest investment in the world because the US government has never defaulted on its obligations.China is the largest foreign holder of Treasury securities. The billion decline in China's holdings in June followed a .5 billion drop in May. China's holdings had hit a high for this year of 0.2 billion in April.There are concerns that China could influence US interest rates by rapidly selling off its holdings of US debt. That could lead others to dump their holdings and result in a spike in interest rates.But analysts say China is more likely to sell a little bit at a time."While it would hurt the United States if China started selling off our securities, it would hurt China just as badly because it would drive down the value of their holdings," said David Wyss, chief economist at Standard & Poor's in New York.Wyss predicted that China will slow its acquisition of new US government debt while diversifying its holdings. Wyss said that process has already begun, noting China's recent acquisition of energy and other natural resource holdings in Latin America and Africa.Japan, the second largest foreign owner of Treasury bonds, increased its holdings in June to 3.6 billion. That's an increase of .9 billion or 2.5 percent. Britain's holdings rose 3.5 percent to 2.2 billion.Japan had for years been the No 1 holder of Treasury securities, but was overtaken by China in September 2008.New government data showed that Japan lost its place as the world's second largest economy in the second quarter of this year. China moved up from No 3 to the No 2 spot, behind the United States.While the data on total economic output was for the second quarter, analysts believe China is on track to surpass Japan for the entire year and become the world's second largest economy.The US Treasury report said that net purchases of long-term securities, a category that covers not only US government debt but also debt of US companies, increased by .4 billion in June after rising .3 billion in May.